Raising Novo Nordisk FVE to $52/DKK 344 Due to Oral Semaglutide's Improving Prospects
We've significantly raised our fair value estimate for Novo Nordisk to DKK 344 per share/$52 per ADR from DKK 284/$44.50, following strong cardiovascular outcomes data for oral semaglutide in the Pioneer-6 study. This solid data, which arrived earlier than we had expected, will allow Novo to file for approval in the first half of 2019 and potentially receive approval by the end of 2019, if the drug receives priority review status from the FDA. The timing of the strong data means that Novo may no...Novo-Nordisk is a global healthcare company engaged in the innovation of diabetes care. Co. also provides haemophilia care, growth hormone therapy and hormone replacement therapy. The Diabetes care business segment includes research, development, manufacturing and marketing of products within the areas of insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD) and obesity. The Biopharmaceuticals business segment includes research, development, manufacturing and marketing of products within the areas of haemophilia, growth hormone therapy, hormone replacement therapy, inflammation therapy and other therapy areas.
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